Editor's note: Nobel Prize-winning economist Joseph Stiglitz speaks on how bad taxpayers are getting ripped off by companies like Goldman. There's a saying- A fish rots from the head. Once again, we have distinguished economists laying out the greatest theft in history and no one in government is going after the heads of these companies. No wonder they feel like they're untouchable...that is... till they go overseas.
GoldmanSachs666 Message Board
According to the Collins English Dictionary 10th Edition fraud can be defined as: "deceit, trickery, sharp practice, or breach of confidence, perpetrated for profit or to gain some unfair or dishonest advantage". In the broadest sense, a fraud is an intentional deception made for personal gain or to damage another individual; the related adjective is fraudulent. The specific legal definition varies by legal jurisdiction. Fraud is a crime, and also a civil law violation. Defrauding people or entities of money or valuables is a common purpose of fraud, but there have also been fraudulent "discoveries", e.g. in science, to gain prestige rather than immediate monetary gain
*As defined in Wikipedia